Trade Growth: Trade and Yuan-Denominated Terms

trade growth: An economy currency fluctuations could have a mixed impact on trade growth due to cross-border cooperation along the global industrial value chain, undermining the boosting effects for exports, Huang added, according to Global Times China. China exports in yuan-denominated terms fell 5.6 percent year on year in September, while imports increased 2.2 percent, customs data showed Thursday. Chinese yuan depreciation might benefit domestic exporters, but would also raise the import costs of production materials as processing trade still remained a major part of of China trade pattern, said Huang Songping, spokesperson with the General Administration of Customs at a press conference. The Chinese yuan continued a weakening streak against the USdollar after the renminbi was officially included in the SDR currency basket on Oct.1. The entry would allow exporters to use the renminbi as a pricing currency during trade and cross-border investment and help reduce foreign exchange rate fluctuation risk and exchange costs, Huang said. (news.financializer.com). As reported in the news.